Paragraphs
Regular terms for the subscription, conversion and redemption of SEB fund units are provided in the Table below.
T – Trade date.
T–1 (T–2) – working day (two working days) preceding the trade date.
T+1 (T+2 or T+4) – next (second or fourth) working day following the trade date.
Regular settlement date for redemption of fund units – in case of regular redemption of fund units, proceeds to a customer’s account are transferred within the period of time indicated in the Table above. Maximum allowable periods for the redemption of fund units indicated in the fund documentation are provided under Item 6.
- If the order date for any indicated SEB fund is (T), and the order is placed before cut-off time (Lithuanian local time), the order will be processed (fund units will be purchased or, in case of redemption, redeemed) on the same day at the trade date price.
If the order date for any indicated SEB fund is (T–1), and the order is placed before cut-off time (Lithuanian local time), the order will be processed (fund units will be purchased or, in case of redemption, redeemed) on the next working day at the trade date price.
If the order date for any indicated SEB fund is (T–2), and the order is placed before cut-off time (Lithuanian local time), the order will be processed (fund units will be purchased or, in case of redemption, redeemed) on the second working day following the order date at the trade date price.
- If an order is placed after the cut-off time (Lithuanian local time), it will be deemed that the order has been placed on the next working day before the indicated order cut-off time. Respectively, terms for processing the next working day’s order will apply.
- Orders placed on fund non-working days are deemed placed and will be processed on the nearest working day of a fund. Please note that orders are not processed on non-working days in Lithuania.
- Fund units are converted, if relevant fund documentation provides for a possibility to convert fund units and/or if such a possibility is ensured by the distributor. If orders of the funds are processed on different days, a conversion order will be processed according to the terms of a fund, whose order processing occurs later. Orders for conversion of fund units are processed on the days on which any two investment funds whose units are converted, calculate their Net Asset Value and unit price. If on the day of placing an order at least one of the converted funds does not calculate its Net Asset Value, the order will be processed on the next working day in Lithuania on which both funds involved in the conversion transaction calculate their Net Asset Value.
- Trade price is published at SEB Bank’s website on the next working day immediately following the trade date (T+1).
- Settlement date for the redeemed units of an investment fund domiciled in Luxembourg is no later than the 10th (tenth) working day following the trade date.
- More detailed information on fund activity terms is provided in a relevant fund key investor information document, fund prospectus, annual and semi-annual reports, instruments of a fund incorporation. Fund documents are available for information at the bank’s website. Should any further information be needed, please contact your client executive with SEB Bank or any SEB Bank unit.
